Uno Minda Q4 FY26 Results

Introduction

Uno Minda Limited, a leading auto component manufacturer, announced its Q4 FY26 results showcasing robust revenue growth, margin stability, and strategic expansion in the EV powertrain space. The company continues to strengthen its diversified portfolio across switches, lighting, seating, castings, and green mobility solutions.

This blog provides a detailed breakdown of the financial performance, operational highlights, industry context, and future outlook based on the investor presentation released on May 16, 2026.

Industry Highlights: Tailwinds and Challenges

Two-Wheeler Growth: Q4 FY26 saw 21% YoY growth in 2W production, setting a new peak in annual volumes.
Passenger Vehicles: PVs posted 11% YoY growth, also achieving record annual production.
EV Penetration:
- e‑2W registrations crossed 1.4 million, penetration at 6.5%.
- e‑PV registrations reached 200,000 units, penetration at 4.2%.
- e‑3W penetration surged past 60%, highlighting rapid adoption.
Regulatory Push: CAFÉ norms effective April 2027 will tighten CO₂ limits, encouraging EV adoption, LED transition, and lightweighting.
Global Headwinds: West Asia conflict elevated crude oil prices, pressuring supply chains and inflation.
Commodity Prices: Aluminium and plastic resins surged, while USD/INR crossing 95.50 made imports costlier.

Operational Highlights: Strategic Wins

Uno Minda reported several operational milestones in Q4 FY26:

Second EV Powertrain Plant: Announced at Chhatrapati Sambhajinagar (CSN), with ₹550 crore investment, SOP expected in Q2 FY28.
Record Sales: Strong performance in 2W switches and lighting, driven by exports and higher share of business (SOB) with underpenetrated OEMs.
Infotainment Breakthrough: Secured a ₹600 crore annual order for Android-based IVI platform, SOP in Q3 FY29.
Seating Division: Significant export order worth ₹390 crore, alongside domestic growth in suspended seats.
Lighting Division: Large order for 2W lamps worth ₹450 crore, SOP in H2 FY28.

Financial Highlights: Q4 FY26

Group Revenues: ₹6,829 crore, up 15% YoY.
Consolidated Revenues: ₹5,336 crore, up 18% YoY.
EBITDA: ₹603 crore, up 14% YoY, margin at 11.3%.
PAT (UML share excluding exceptional items): ₹326 crore, up 22% YoY.

“Consolidated revenues increased by 18% YoY to ₹5,336 crore for the quarter, while PAT rose 22% to ₹326 crore.”

Financial Highlights: FY26

Group Revenues: ₹25,203 crore, up 17% YoY.
Consolidated Revenues: ₹19,589 crore, up 17% YoY.
EBITDA: ₹2,182 crore, up 16% YoY, margin at 11.1%.
PAT (UML share excluding exceptional items): ₹1,166 crore, up 24% YoY.
Dividend: Recommended at ₹1.75 per share.

Division-Wise Revenue Mix

Switches: 25–26% share.
Lighting: 22–23% share.
Castings: 18–19% share.
Seating: 7% share.
Green Mobility: 7–8% share.
Others: 18–20% share.

This balanced mix highlights Uno Minda’s resilience across product categories.

Business Review: Segment Updates

Switches & Lighting

Sustained domestic growth and robust 2W exports.
Uno Minda strengthens role as supplier to electric two-wheeler manufacturers
Large 2W lamp order worth ₹450 crore.

Green Mobility

EV systems growth driven by e‑3W chargers.
EDU supplies commenced.
Second PV EV powertrain plant announced.

Seating

Domestic market adoption of suspended seats rises
₹390 crore export orders secured.

Castings

Aluminium price surge impacted margins.
Expansion projects commissioned at Hosur.

Expansion Projects

Uno Minda is aggressively investing in capacity:

4W Alloy Wheels: ₹542 crore at Kharkhoda (Phase 1 commissioned), ₹764 crore at CSN (multi-phase till FY28).
4W Lighting: Expansion in Indonesia completed.
4W Switches: Farrukhnagar expansion underway.
Sunroof & Airbags: New facilities at Bawal and Harohalli.
EV Powertrain: ₹423 crore at Khed (SOP FY27), ₹550 crore at CSN (SOP FY28).

Total planned investment: ₹3,670 crore, with ₹1,412 crore incurred till March 2026.

ESG & Recognitions

Environmental: 98 MWp solar investment in Haryana.
Governance: Awarded Best Governed Company at the 25th ICSI National Awards for Excellence in Corporate Governance, in the medium‑sized listed company segment.
Social: Expanded Samarth Jyoti centers, PWD hiring initiatives.
Awards:
- Top 3 in Automotive Innovations Aegis Graham Bell Awards.
- Questel IP Excellence Award 2025.
- Best CEO Award – Fortune India 2025.
- CII Industrial Innovation & Design Excellence Awards.

Five-Year Financial Summary

Metric	FY22	FY23	FY24	FY25	FY26
Revenue (₹ Cr)	8,313	11,236	14,031	16,775	19,589
EBITDA (₹ Cr)	885	1,242	1,585	1,874	2,182
PAT (₹ Cr)	356	654	880	943	1,166
EPS (₹)	6	11	15	16	20
ROE (%)	12.5	17.2	19.4	17.7	18.6

Outlook

Uno Minda’s Q4 FY26 results reflect strong fundamentals, diversified revenue streams, and proactive investments in EV technologies. While commodity inflation and global uncertainties pose challenges, the company’s expansion in EV powertrain, infotainment, and seating exports positions it well for sustainable growth.

FAQs

1. What was Uno Minda’s Q4 FY26 revenue?
Consolidated revenue stood at ₹5,336 crore, up 18% YoY.

2. How did PAT perform in Q4 FY26?
PAT (UML share) rose 22% YoY to ₹326 crore.

3. What dividend was recommended for FY26?
A final dividend of ₹1.75 per share was recommended.

4. What are Uno Minda’s major expansion projects?
Key projects include EV powertrain plants at Khed and CSN, alloy wheel facilities, and new sunroof and airbag plants.

5. How is Uno Minda positioned in the EV segment?
The company is expanding EV powertrain capacity, supplying EDU and DHT systems, and growing its e‑3W charger business.

Disclaimer: This blog is prepared for informational purposes only, based on publicly available investor presentations. It does not constitute investment advice or a recommendation. Any views or interpretations expressed here are my personal views and should not be construed as guidance for investment decisions. Readers are advised to consult qualified financial experts before making any investment choices.

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